The article argues that the Federal Reserve's recent rate hike decision, while justifiable on inflation grounds, highlights a critical lack of an underlying, transparent policy framework. The core problem is that the Fed's decisions appear discretionary, leading to market uncertainty because the committee's judgment, rather than clear data, dictates policy shifts. The author proposes that the Fed adopt a formal monetary policy rule—an algebraic formula linking the target rate to indicators like inflation and unemployment—to replace subjective guidance. Implementing such a rule would provide market predictability, enhance transparency, and shield the Fed from political attacks by making deviations from the standard easily quantifiable.
Why Congress Needs to Act Now on Permitting Reform
English Summary
The Heritage Foundation argues that Congress must urgently reform federal permitting systems to accelerate domestic energy production, citing that electricity demand will grow 25% by 2030 while current regulations like NEPA, the Endangered Species Act, and the Clean Water Act have become tools for activist litigation rather than environmental protection. The article contends that permitting delays—exemplified by the Mountain Valley Pipeline's 9-year approval timeline—artificially constrain energy supply, driving up household utility costs and inflation across the entire economy. Proposed reforms include establishing firm timelines on environmental reviews, closing litigation loopholes, and streamlining approvals for low-impact projects. The author frames energy security as critical to U.S. national security, economic stability, and geopolitical competitiveness against China and dependency on hostile nations like Russia and Iran.
中文摘要
「傳承基金會」（The Heritage Foundation）主張，國會必須緊急改革聯邦許可系統，以加速國內能源生產。該機構指出，由於電力需求預計到 2030 年將增長 25%，而現行法規，例如《國家環境政策法》（NEPA）、《瀕危物種法》（Endangered Species Act）和《清潔水域法》（Clean Water Act），已淪為活動家訴訟的工具，而非環境保護的手段。本文論點指出，許可延遲——例如山谷管道（Mountain Valley Pipeline）長達九年的審批時程——人工限制了能源供應，從而推高了家庭公用事業費用和整個經濟體的通貨膨脹。提出的改革方案包括為環境審查設立固定時程、關閉訴訟漏洞，以及簡化低影響力項目的審批流程。作者將能源安全定調為美國國家安全、經濟穩定和地緣政治競爭力的關鍵，特別是在應對中國的競爭以及減少對俄羅斯、伊朗等敵對國家的依賴方面。
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